BUZZ-U.S. STOCKS ON THE MOVE-Tesaro, PrivateBancorp, Nike, Autoliv

Reuters Staff

4 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures were higher for a second day as the initial panic surrounding Britain's vote to leave the European Union settled and investors sought out bargains. Dow Jones industrial average futures were up 0.49 percent at 17,386, S&P 500 futures were up 0.47 percent at 2,038 and Nasdaq 100 futures were up 0.54 percent at 4,304.

** TESARO INC, Tuesday close $37.21, +85.43 pct premarket

The cancer drug maker said its ovarian cancer drug met the main goal of prolonging survival in patients, without the disease worsening, in a late-stage trial, sending its shares up 69 percent in premarket trading.

** NIKE INC, Tuesday close $53.09, -1.11 pct premarket

The sportswear maker’s quarterly revenue growth and its forecast for future orders missed analysts’ estimates, underscoring its struggle to fend off competition from Adidas and others, especially in its home turf of North America.

** PRIVATEBANCORP INC, Tuesday close $35.93, +24.63 pct premarket

Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp in a cash-and-stock deal valued at about $3.8 billion to offer its Canadian clients access to U.S. banking services.

** AUTOLIV INC, Tuesday close $110.13, -5.94 pct premarket

The auto safety gear maker confirmed that Toyota is recalling 1.4 million Prius cars equipped with its airbag inflators.

Energy Transfer Equity said on Wednesday that it has terminated its merger agreement with Williams after ETE’s counsel were unable to declare the deal as tax-free.

** TESLA MOTORS CORP, Tuesday close $201.79, +0.94 pct premarket

An investor group called on Tesla on Tuesday to add two independent directors to its board and separate the roles of chairman and chief executive as it highlighted founder and CEO Elon Musk’s dominance of the board in the wake of Tesla’s proposed bid for SolarCity.

The U.S. manufacturer of aerospace parts and climate control systems said Chief Operating Officer Darius Adamczyk will succeed company veteran Dave Cote as chief executive next year.

** MCDONALD’S CORP, Tuesday close $118.5, +0.42 pct premarket

South Korea’s CJ Group, a food-to-entertainment conglomerate, said on Wednesday it has submitted a letter of intent to buy the largest fast-food chain McDonald’s Corp’s South Korean unit, adding that details have not been decided.

** ELI LILLY & CO, Tuesday close $75.15

The drugmaker and Boehringer Ingelheim should be allowed to claim that their diabetes drug Jardiance cuts the risk of cardiovascular death, an advisory panel to the U.S. Food and Drug Administration concluded on Tuesday.

** NOODLES & CO, Tuesday close $9.71

The fast-casual restaurant chain operator said on Tuesday a recent data security incident may have compromised the security of payment information of some its customers. (Compiled by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)